NIC Asia Bank has requested its customers to update their Permanent Account Number (PAN) and email addresses to comply with tax regulations and ensure smooth banking services.
NIC Asia Bank Limited has urged its customers to update their Permanent Account Number (PAN) and email addresses linked to their accounts. According to the bank, updating PAN is mandatory as per the Income Tax Act 2058, so that tax deduction details can be correctly linked with the Government of Nepal’s Permanent Account Number system.
Customers can easily update their PAN via the bank’s portal panupdate.nicasiabank.com or through the ‘NIC ASIA MoBank’ mobile banking app. Additionally, PAN updates can also be done at any branch of the bank.
The bank emphasized that updating PAN is essential for recording tax deducted at source on deposit interest in the e-TDS system. Once PAN is updated, tax deduction details will automatically match Schedule 10, making it easier for customers to obtain tax deduction and clearance certificates without visiting the bank.
NIC Asia Bank also warned that interest tax for customers who do not update their PAN may not be recorded in e-TDS, and the bank will not be responsible for any later adjustments. Furthermore, the bank has requested customers to update their email addresses through the video KYC portal https://www.nicasiabank.com/video-kyc/ or via the ‘My Profile → Change Email’ option in the MoBank app.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
